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BusinessDesk
Independent, Trustworthy New Zealand Business News
The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.
BusinessDesk - Latest News [Page 1602]
AMP NZ earnings rise 7% on tight cost controls
Thursday, 17 February 2011, 11:50 am | BusinessDesk
Feb. 17 (BusinessDesk) – Australia-based AMP Ltd.’s New Zealand unit boosted earnings 7% as it clamped down on costs. More >>
NZ producer input prices rise less-than-expected 0.2%
Thursday, 17 February 2011, 11:36 am | BusinessDesk
Feb. 17 (BusinessDesk) - New Zealand producer input prices rose less than expected in the fourth quarter, suggesting inflationary pressures eased as the country's economic recovery came close to stalling. More >>
Manufacturing continues its expansion: PMI
Thursday, 17 February 2011, 11:25 am | BusinessDesk
Feb. 17 (BusinessDesk) - New Zealand manufacturing has expanded for the fourth month in a row, and the economy should be buoyed by a series of positive factors for the rest of the year according to the Bank of New Zealand. More >>
Moody’s puts NZ banks on notice, probing offshore funding
Thursday, 17 February 2011, 11:12 am | BusinessDesk
Feb. 17 (BusinessDesk) – Ratings company Moody’s Investors Service has put New Zealand’s banks on notice of a potential downgrade as it looks into the wholesale funding arrangement used by them and their Australian parents. More >>
Abano shrugs over 11% drop in share price to near 2-year low
Thursday, 17 February 2011, 10:12 am | BusinessDesk
Feb. 17 (BusinessDesk) – Abano Healthcare Group, the listed specialist health clinic investor, said it can’t explain why its share price has slumped 11% this month to near a two-year low. More >>
Vector back in the game for a share of UFB
Thursday, 17 February 2011, 10:04 am | BusinessDesk
Feb. 17 (BusinessDesk) – Crown Fibre Holdings, the vehicle overseeing the government’s national broadband plan, has added lines company Vector Ltd.’s Auckland bid to its priority list. More >>
Michael Hill first-half profit rises 7.2%
Thursday, 17 February 2011, 9:57 am | BusinessDesk
Feb. 17 (BusinessDesk) – Michael Hill International Ltd., the jewellery chain whose founding family is seeking to regain control, posted a 7.2% gain in first-half profit as it tempted consumers in Australia and New Zealand to spend more at its stores. More >>
Stocks to watch: ATM, ABA, AWF, ANO, BPL, MHI, NTH, SLG, SKL
Thursday, 17 February 2011, 9:49 am | BusinessDesk
Feb. 16 (BusinessDesk) – The following stocks may be active on the New Zealand exchange after developments since the close of trading. All prices are in New Zealand dollars unless specified. More >>
NZ dollar holds near 8-week low as Middle East tensions rise
Thursday, 17 February 2011, 9:17 am | BusinessDesk
Feb. 17 (BusinessDesk) – The New Zealand dollar held near an eight-week low amid rising tensions in the Middle East that have sapped investors’ appetite for the greenback over concerns the unrest may push up oil prices. More >>
Tax charge wipes out Millennium & Copthorne's profitability
Wednesday, 16 February 2011, 6:38 pm | BusinessDesk
Feb. 16 (BusinessDesk) - Millennium & Copthorne Hotels NZ's profitability was wiped out by a non-cash depreciation charge while underlying profit fell 21.2%. More >>
MARKET CLOSE: NZ stocks fall; SkyCity paces decliners
Wednesday, 16 February 2011, 6:03 pm | BusinessDesk
Feb. 16 (BusinessDesk) - New Zealand stocks fell for the first time in three sessions, with SkyCity Entertainment Group pacing declines after its half-year profit fell short of market expectations, while Argosy Property Trust rose. More >>
Skellerup 1H profit triples as recession impact fades
Wednesday, 16 February 2011, 5:37 pm | BusinessDesk
Feb. 16 (BusinessDesk) - Skellerup Holdings Ltd., the best-performing company on the NZX 50 Index last year, said first-half profit tripled as the rubber products and dairy equipment firm recovered from the recession. More >>
Westpac NZ doubles 1Q profit as impairment charges tumble
Wednesday, 16 February 2011, 5:05 pm | BusinessDesk
Feb. 16 (BusinessDesk) – Westpac Banking Corp.’s New Zealand unit doubled its first-quarter profit as the charge it took on bad debts continued to tumble as the impact of the global financial crisis recedes. More >>
Allied Workforce expecting record profit
Wednesday, 16 February 2011, 4:47 pm | BusinessDesk
Feb. 16 (BusinessDesk) – On-demand workforce company Allied Workforce Ltd. says it expects to make a record profit in the year March 31, revising anticipated earnings before interest, tax, depreciation and amortisation to around $6 million, compared ... More >>
High rollers help boost SkyCity's second half trading so far
Wednesday, 16 February 2011, 4:11 pm | BusinessDesk
Feb. 16 (BusinessDesk) - High rollers helped boost casino operator SkyCity Entertainment Group's revenue since New Year but its traditional gaming machine revenue is also growing strongly. More >>
Fletcher’s ‘mixed’ results leave recovery timing unclear
Wednesday, 16 February 2011, 3:46 pm | BusinessDesk
Feb. 16 (BusinessDesk) – Fletcher Building Ltd. says full-year earnings will come in at about the average of analyst estimates after it reported first-half profit growth that was constrained by one-off impacts on its building products division ... More >>
Vector to appeal regulated line charges regime
Wednesday, 16 February 2011, 3:39 pm | BusinessDesk
Feb. 16 (BusinessDesk) – Vector Ltd., the gas, electricity and fibre-optic cable network owner, is to appeal the Commerce Commission’s new determinations relating to rates of return on monopoly networks under previously untested new rights of review. More >>
SCF receiver puts $200 mln loan book up for sale
Wednesday, 16 February 2011, 2:34 pm | BusinessDesk
SCF receiver puts $200 mln loan book up for sale Feb. 16 (BusinessDesk) – The receivers for South Canterbury Finance Ltd. have put up one of the stricken Timaru lender’s loan books on the block as it continues to squeeze whatever value is left ... More >>
New trans-Tasman investment caps excludes sensitive NZ land
Wednesday, 16 February 2011, 1:16 pm | BusinessDesk
Feb. 16 (BusinessDesk) – The increased investment thresholds for injecting money across the Tasman doesn’t cover sensitive land, with farmland and fishing quotas still requiring official oversight. More >>
Cautious reaction from Telecom on regulatory package
Wednesday, 16 February 2011, 11:50 am | BusinessDesk
Feb. 16 (BusinessDesk) – Telecom Corp. reacted cautiously to the release of a proposed new regulatory framework that would come into force if the company separates into two companies to participate in the government’s ultra-fast broadband scheme. More >>
